Trader Eugene: Recently, the strong performance of SUI may indicate the presence of wash trading, but the specific extent of the impact is difficult to quantify

ChainCatcher news, according to trader Eugene Ng Ah Sio's post in his personal channel, he believes that the recent strong price of SUI may be related to insider trading in the "SUI treasury news" (although the extent of the impact is difficult to quantify). Based on this judgment, although he does not believe this will constitute a significant bearish signal, due to the inability to accurately assess how much market positions have already reacted to this news, he has chosen to take profits and close his long positions.

ChainCatcher news, according to previous reports, today non-bank lending institution and financial company Mill City Ventures III, Ltd. (NASDAQ:MCVT) announced that it has signed a securities purchase agreement to invest in publicly traded equity through a private investment, purchasing and selling 83,025,830 shares of common stock at a price of $5.42 per share, with expected total proceeds of approximately $450 million (net of placement agent fees and other issuance costs). The company plans to use about 98% of the net proceeds from the private placement to acquire the native token SUI of the Sui blockchain, and about 2% of the net proceeds from the private placement to support the company's short-term lending business. SUI will serve as the company's primary financial reserve asset.